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Coinbase Hires New Compliance Chief for UK Operations U.S.-based cryptocurrency exchange Coinbase has hired a new U.K. head of compliance with three decades of experience in the industry. The new hire, Mark Kelly, joins the prominent crypto startup after almost five years as a director at London-based regulatory reporting firm Abide Financial. According to his LinkedIn profile, Kelly…
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Marcus Hughes, Coinbase’s lead executive believes the year 2019 will bring ‘regulations on Bitcoin’ across the world, particularly in Europe.
Huges Predicting Positive Outcomes from Regulations
Discussing at the Forbes Interview, Chief Counsel of Coinbase, the leading Bitcoin Exchange and Wallet service, Marcus Hughes said that the regulatory frameworks will shape the future of Bitcoin. Noting Bitcoin regulations across the world, he specifically noticed Europe to see a big move in terms of crypto regulations. Hughes said in an interview
“Within the next year or two, we’ll see big developments. Regulation will take shape this year, particularly in Europe.”
Crypto regulations ring a fearing bell for crypto enthusiasts across the various countries. While the ban is not a favorable solution, many enthusiasts, analysts, and companies expect authorities to form favorable regulations that would likely encourage adoption and innovation.While Mr.Hughes thinks 2019 as the year of better regulations for Bitcoin and cryptocurrencies, the other fame personality of the crypto market, ‘jalak jobanputra, a founder of NYC based Venture Capital Fund, Future Perfect’ voiced that 2018 was the year of regulations. She further urged that the year 2019 will be a better year for cryptocurrencies.
2018 was the year of regulations for cryptocurrencies, 2019 Will Be a Better Year for Cryptocurrencies – @jalak #CryptoNews #Crypto #Bitcoin #BitcoinNewshttps://t.co/nUVuKsJRTd
— CoinGape (@CoinGapeMedia) January 3, 2019
Crypto In European Countries (E.U)
Mr.Hughes during an interview strongly notes ‘Europe’ to see a big move in terms of regulations. Nevertheless, it is worth to note that the European Banking Authority (EBA) insists for ‘efficient crypto regulations to safeguard investors across the bloc while also approaching fair rules for cryptocurrency operations across European Unions.
“We could end up with E.U. member states creating their own crypto laws, but it’s certainly possible we’ll get a unified approach in Europe. It would make the life for companies like Coinbase a lot easier.’, said Hughes.
Furthermore, the meteoric rise of Bitcoin price in late 2017 has raised the eyebrows of crypto enthusiasts as well as scammers. Henceforth the eyebrows of regulators too. Although the crypto market experienced an unexpected decline during last year, some of the leading banks are still seeing huge potentials in crypto space. Hughes cited the uncertain regulations are holding these banks from adopting the wider perspective of crypto, yet they’re keen to indulge in a space’.
“As the industry matures and is better regulated it will need the talent and experience to manage it, Hughes thinks.”Regulation will help a lot, in particular around custody offerings. These things take time. Clients of investment banks will expect regulation to be in place.
While Binance Boss, CZ remarks that he doesn’t look at the price until someone informs the same to him, chief counsel of Coinbase admitted that he does have check regularly.
He further states that ‘Coinbase exchange considers a long view on cryptocurrency prices’.
“We need to move beyond the speculation phase of bitcoin and cryptocurrency to the utility phase. The utility phase will mean bitcoin and crypto becomes more widely accepted and understood.”
The post Coinbase UK Legal Cousel Predicts 2019 is a Big Deal for Bitcoin Regulations Worldwide appeared first on Coingape.

Coinbase has been working to filter out their team from the unnecessary staff lately. They have lost at least nine employees holding a senior or mid-level executive level over the last few months, but the platform has been reconciling their losses with five new hires so far.
Now, amid all of the reported layoffs, it seems that the U.K. office is welcoming a new member to the staff with Mark Kelly. Kelly brings his 30 years of experience to the table as the new head of compliance for this location.
Kelly has spent the last five years working at Abide Financial, a regulatory reporting firm in London where he was a director. However, his new position at Coinbase is still fresh, after only having joined a month ago, based on his profile on LinkedIn.
During Kelly’s time with Abide, his role was primarily as an advisor to the compliance of anti-money laundering rules and other compliance areas. He also helped with EU’s Markets in Financial Instruments Directive and the European Market Infrastructure Regulation.
Overall, the time spent here adds up to three decades in compliance and auditing experience, which he spent at multiple financial firms that are rather well known in the industry, like Grant Thornton, Barclays Capital, and Lehman Brothers.
The U.K. Financial Conduct Authority decided in March last year to grant Coinbase the necessary e-money license for their operation in both the U.K. and the EU. Several months later, in August, the exchange was permitted to provide services with British pounds, like instant deposits and withdrawals.
In one of the most recent actions, Coinbase managed to raise $300 million in a funding round, bringing their valuation to $8 billion, as of October last year.